Hello Everyone, issue got resolved, issue lies in the .vsz file, where engine version is mismatching,
luckily there is pre-defined basic template exists in VSwizard folder and vsprojects folder which helped me to debug the issue. I just compared all the relevant files and found the root cause.
and this template creation steps me help to debug faster:https://www.codeproject.com/Articles/13745/How-to-create-a-custom-project-template-using-Visu
and thanks for all the responses.